OKANAGAN 2016 PROPERTY ASSESSMENT NOTICES IN THE MAIL

KELOWNA —In the next few days, owners of more than 222,000 properties throughout the Okanagan can expect to receive their 2016 assessment notices which reflect market value as of July 1, 2015.

“The majority of residential home owners within the region can expect a modest increase in value, compared to last year’s assessment,” says Deputy Assessor Tracy Wall.

“The Central Okanagan’s urban areas will see the greatest increases in assessed values along with Penticton, Salmon Arm, Spallumcheen and Lumby.”

As B.C.’s trusted, go-to provider of property information, BC Assessment collects, monitors and analyzes property data throughout the year. The table below indicates Okanagan‘s estimated typical percentage changes to 2016 assessment values by property type compared to 2015 (note that property assessments may vary by individual jurisdiction/municipality within the region).

Disclaimer: Taxes are based on budgets not assessments

Assessments are part of an equation of mill rate vs assessments equals taxes

If Assessments rise – the tax rate goes DOWN based on the needed revenue in the municipal budget.